MOO Sign a Contract With Pakistan Petroleum

abarrelfullabarrelfull wrote on 01 Dec 2012 21:21
Tags: iraq m-east pakistan-petroleum upstream

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

The Iraqi ministry of oil signed a contract in its final form in Monday the 5th of November 2012 with Pakistan Petroleum, for the exploratory area (No. 8) 6000 square kilometers with carbonic structures / gas, which is located between Diyala & Wasit governorates, which was offered in the 4th licensing round, And it is worthy to mention that, Pakistan Petroleum offered 5.38$ wages profit per barrel.

Mr. Delman N. Abdullah the Director General of Midlands Oil Company MDOC) represented Iraq to sign the contract with Mr. Assim Khan the director of Pakistan Petroleum.

Mr. Ahmed Al-Shamaa, the deputy minister for up streaming said that the Pakistani company will make a two-dimension seismic survey for the exploratory area to determine its gas contents in addition to drilling one oil well. As well as he said that the minimum exchange requirements were 100 million dollars and the Iraqi council of ministers ratified the initial form of the contract earlier.

Mr. Delman said that his company will do their best to succeed the project for the benefit of Iraq.

Mr. Khan ensured that the contract signature will strengthen the mutual relations between Iraq and Pakistan as well as it will contribute in developing the oil & gas industry in Iraq.

Mr. Assim Jihad the spokesman of the oil ministry said that the Pakistani company will precede their works in the 8th exploratory area., as well as the project will gain a big profit in Iraq in general and Diyala & Wasit in particular as well it will offer work opportunities in addition to supplying much oil to the national reserves which will enhance the national reserves of oil, adding that among other benefits that will be realized is importing additional incomes to the provinces within what is known as a petro-dollar project.

It is worthy to mention that the council of ministers in its forty-second session in the 25th of September, gave the approval to the oil ministry to sign the service contracts for the exploratory areas (8, 10, 12) and wait to sign the contract of the area 9 until the oil ministry finishes its procedures.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License